Published on 20/03/2017 5:30:32 PM | Source: Dion Global Solutions Ltd.
Zinc futures drop 0.69% on weak overseas cues
Zinc futures were trading lower during evening trade in the domestic market on Monday as investors and speculators exited their positions in the industrial metal on muted physical demand for zinc at the domestic spot market, and tracking weak trend overseas.
Further, weakness in the global market and a fall in physical demand for zinc at the domestic spot market due to trimming of positions by traders in the spot markets, influenced zinc prices at futures trade. At the MCX, zinc futures for March 2017 contract is trading at Rs 187.10 per kg, down by 0.69 per cent, after opening at Rs 188.30, against a previous close of Rs 188.40. It touched the intra-day low of Rs 186.30 (at 16:55 hours).